Exhibit 10.1

SEPARATION, ADVISOR AND RELEASE AGREEMENT

May 12, 2026

Ms. Jennifer Hyman
At the address on file with the Company

Dear Jenn:

This Separation, Advisor and Release Agreement (the “Agreement”) confirms the agreement between you, Rent the Runway, Inc. (together with its subsidiaries and affiliates, the “Company”) and, solely for purposes of Section 6(d) and Section 9 of this Agreement, the Investor Group (as defined below) describing the terms and conditions of your separation from, and advisor services to, the Company and the transition of your duties and responsibilities on behalf of the Company following your resignation from the Company without Good Reason, as defined in that certain employment agreement entered into by and between you and the Company, as most recently amended on August 20, 2025 (the “Employment Agreement”).

part of yourself or any other person. Upon the reasonable request of the Company, you agree to execute any additional documents and take any additional actions as may be necessary or desirable to effectuate the foregoing.

Bonus Plan, as of your Separation Date, you will fully vest in the Closing Payment (as defined in the Transaction Bonus Plan), which was paid to you on or about October 28, 2025, and no portion of the Closing Payment will be subject to repayment to the Company pursuant to Section (D)(4) of the Transaction Bonus Plan. In accordance with the terms and conditions of the Transaction Bonus Plan, as of your Separation Date, you will cease to be eligible to receive any Semi-Annual Payment and the Performance Payment (each, as defined in the Transaction Bonus Plan), and you will no longer be eligible to participate in, or receive any compensation and benefits under, the Transaction Bonus Plan.

the terms and conditions of the Incentive Plan and the applicable award agreement; provided, that in the event a Change in Control (as defined in the Incentive Plan) occurs or the Investor Group takes the Company private (either such event, a “Transaction”), (I) to the extent the Retained RSUs have not vested, the Retained RSUs shall accelerate and vest as of the occurrence of the Transaction (with the number of Retained RSUs determined based on the price-per share of the Company’s common stock received by the Company’s shareholders in connection with such Transaction)), and (II) any unpaid portion of the Advisor Fee that would have otherwise been earned by you through the scheduled end of the Advisor Period shall accelerate, and in each case shall be paid or provided to you upon the consummation of the Transaction, in each case of clauses (I) and (II), subject to your continued service through the occurrence of the Transaction.

provided, however, that the Lifetime Subscription shall automatically cease in the event that the Company no longer offers subscription-based services.

expressly provided in this Agreement. For the avoidance of doubt, following the date hereof, you will not be eligible to receive any additional grants of equity awards, including RSUs and PSUs, under the Incentive Plan and will not be eligible to participate in any annual cash bonus plan implemented by the Company with respect to fiscal year 2026 or thereafter.

federal, state and local fair employment, non-discrimination or civil rights law or regulation; all claims sounding in tort or breach of contract (express or implied), wrongful discharge, whistleblowing, detrimental reliance, defamation, emotional distress or compensatory and/or punitive damages; and all claims for attorneys’ fees, costs, disbursements and/or the like, and covenant not to sue any of the Released Parties in respect of any of the foregoing; provided, however, that nothing in this sentence shall prohibit you from communicating with, filing a charge or complaint with, or participating in any investigation or proceeding conducted by any Government Agency (as defined below), or from receiving any monetary award or other payment from any Government Agency, in each case to the extent permitted by law.  All of the above statutes as amended.

For the avoidance of doubt, the foregoing release includes any and all rights or claims under or relating to the certain Investor Rights Agreement, dated as of August 20, 2025, by and among the Company and the other parties thereto (the “IRA”), including, without limitation, any governance, designation, observer or information rights thereunder.

for Cause.  The Company represents and warrants, on behalf of itself and its past and present parent companies, subsidiaries, affiliates, partners, successors and assigns, that it is not aware of any claims, demands causes of actions, fees or liabilities it may have against you, or of any facts, events or circumstances existing as of the date hereof, in each case, that would be grounds for a termination of your employment by the Company for Cause.

for or on behalf of the Company for any purpose or transaction, and may not bind or otherwise obligate the Company in any manner whatsoever without obtaining the prior written approval of the Board or Chairman of the Board therefor. Although the Company may specify the results to be achieved by you and may control and direct you in that regard, the Company shall not control or direct you as to the details or means by which such results are accomplished. The parties hereby acknowledge and agree that all Advisor Fees paid pursuant to Section 3 shall represent fees for services as an independent contractor and shall therefore be paid without any deductions or withholdings taken therefrom for taxes or for any other purpose. You shall be solely responsible for the payment of any federal, state or local income or payroll taxes owed by you solely due to the receipt of consideration for providing services as an Advisor under this Agreement. Except with respect to participation in any employee benefits plans in connection with you being a former employee (including any rights relating to COBRA), you shall not be entitled to participate in any employee benefit plans or other benefits or conditions of employment available to employees of the Company during the Advisor Period or thereafter.

LLC, Gateway Runway LLC, and S3 RR Aggregator, LLC, and any successor or assign of any of the foregoing.

professional service on or before June 15, 2026, and the Company shall cooperate with you, in good faith, to identify any such materials.

other way affect your communicating with any governmental agency or entity, or communicating with any official or staff person of a governmental agency or entity, concerning matters relevant to such governmental agency or entity.

this Agreement contravenes Section 409A or would cause you to be subject to additional taxes, interest, or penalties under Section 409A, you and the Company shall discuss in good faith modifications to this Agreement to (i) comply with, or avoid being subject to, Section 409A, (ii) avoid the imposition of taxes, interest, or penalties under Section 409A, and/or (iii) mitigate any additional tax, interest, and/or penalties that may apply under Section 409A if compliance is not practicable. You and the Company shall use commercially reasonable efforts to maintain the economic intent of the original provision to the extent practicable.  Notwithstanding anything in this Agreement to the contrary, if on the Separation Date you are considered a “specified employee” (as defined in Code Section 409A), then to the extent that any payment or benefit to you under this Agreement constitutes a “deferral of compensation” payable upon a “separation from service” within the meaning of Code Section 409A, the Company will defer such payment or benefit to the extent necessary in order to avoid the imposition of a penalty tax until the earlier of (i) six months after the Separation Date and (ii) your death. The accumulated amounts shall then be paid in a lump sum within 10 calendar days after the end of the six-month period. For purposes of Code Section 409A, your right to each payment (or each installment in any series of payments) hereunder shall be treated as a separate payment and not as a right to a single payment. With respect to any expense reimbursement or in-kind benefit provided to you which constitutes a “deferral of compensation” within the meaning of Section 409A, (i) the amount of expenses eligible for reimbursement or in-kind benefits provided to you during any calendar year will not affect the amount of expenses eligible for reimbursement or in-kind benefits provided to you in any other calendar year, (ii) the reimbursements for expenses for which you are entitled to be reimbursed will be made on or before the last day of the calendar year following the calendar year in which you incurred the expense, and (iii) the right to payment or reimbursement or in-kind benefits hereunder may not be liquidated or exchanged for any other benefit.

WITH AN ATTORNEY OF YOUR CHOICE, OR HAVE HAD A REASONABLE OPPORTUNITY TO DO SO; AND (V) ARE SIGNING THIS AGREEMENT VOLUNTARILY AND OF YOUR OWN FREE WILL AND AGREE TO ABIDE BY ALL THE TERMS AND CONDITIONS CONTAINED HEREIN.

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Please indicate your agreement with the above terms by signing below.

Very truly yours,

Exhibit 10.2

May 12, 2026

Jennifer Y. Hyman

Benjamin Stauffer

JYH 2021 Children’s Trust dtd 10/12/21 Justin Finnegan TTEE

BS 2021 Family Trust dtd 10/12/21 Justin Finnegan TTEE

JYH 2012 Article 2nd Trust dtd 1/23/20 Linda Hyman & Justine Finnegan TTEES

Linda S Hyman & Dov I Hyman JTWROS

Dear Ladies and Gentlemen:

Reference is made to certain Separation, Consulting and Release Agreement, dated May 12, 2026, by and between Jennifer Y. Hyman and Rent the Runway, Inc., a Delaware corporation (the “Company”, and such agreement, the “Separation Agreement”).  This letter agreement (this “Agreement”) confirms the mutual understanding and agreement between Ms. Hyman and Founder (each, a “ Party,” and collectively, the “Parties”), and the Company with respect to the termination of its rights pursuant to that certain Investor Rights Agreement, dated as of August 20, 2025 (the “Investor Rights Agreement”), between the Company and the parties listed as Investors on Exhibit A thereto.  Capitalized terms used but not defined herein shall have the meanings given to them in the Investor Rights Agreement.

In consideration of the promises and mutual covenants herein and for other good and valuable consideration, including the consideration set forth in the Separation Agreement, the receipt and sufficiency of which are hereby acknowledged by the parties hereto, the parties agree as follows:

1.       In connection with the matters contemplated by the Separation Agreement, effective as of the Separation Date (as defined in the Separation Agreement), each Party hereby irrevocably acknowledges and confirms that any and all rights or entitlements such Party may have under the Investor Rights Agreement, including, without limitation, (i) the right of JYH to be designated for appointment to the Board and for reasonable consideration of her views in connection with certain Board appointments, (ii) the right of Founder to designate for appointment to the Board one Founder Director and one Founder Observer, and (iii) any rights to attend or receive notice of meetings of the Board or any committee thereof or to receive information or materials thereunder, are hereby terminated pursuant to Section 13.13 of the IRA without any further action by or on behalf of any Party, the Company or any other Person.  Each Party hereby agrees not to assert or seek to enforce any such rights from and after the Separation Date. This Agreement sets forth the entire agreement and understanding of the parties hereto and replaces any express or implied prior agreement with respect to the matters covered hereby, except that this Agreement does not supersede the Separation Agreement.  This Agreement may be amended only by a written document signed by the parties hereto.

2.       This Agreement and all claims and causes of action hereunder shall be governed by, and construed in accordance with, the Laws of the State of Delaware, regardless of the Laws that might otherwise govern under applicable principles of conflicts of laws thereof. Section 13.07(b) of the IRA is hereby incorporated herein by reference.

3.       In the event that any provision of this Agreement is held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remainder of this Agreement will not in any way be affected or impaired thereby.

4.       This Agreement is intended to bind and inure to the benefit of and be enforceable by you and the Company and their respective successors, heirs and permitted assigns.  

5.       The other parties to the Investor Rights Agreement are intended third-party beneficiaries of this Agreement.

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Please indicate your acceptance of the above terms by signing and dating this Agreement and returning it to Cara Schembri in connection with your execution of the Separation Agreement.

Very truly yours,

[Signature Page to the Letter Agreement]

Exhibit 10.3

STATEMENT OF WORK

This SOW No. 2 (“SOW”) is issued under the Services Agreement, dated as of November 1, 2025 (the “Agreement”) between Rent the Runway, Inc. (“RTR”) and Teri Bariquit (“Consultant”).  This SOW is effective as of May 15, 2026 (the “Effective Date”) and shall supersede and replace SOW No. 1 issued under this Agreement as of the Effective Date.  This SOW shall automatically terminate on the date that Consultant ceases providing services to RTR as its interim Chief Executive Officer and President (such date, the “Termination Date” and the period beginning on the Effective Date and ending on the Termination Date, the “Term”). This SOW includes the terms and conditions of the Agreement, which are incorporated by this reference.  In the event of any conflict in terms between the Agreement and this SOW, the Agreement shall prevail unless otherwise expressly stated in this SOW.  Terms used in this SOW and not defined shall have the meaning set forth in the Agreement.

Exhibit 10.4

STATEMENT OF WORK

This SOW No. 3 (“SOW”) is issued under the Services Agreement, dated as of November 1, 2025 (the “Agreement”) between Rent the Runway, Inc. (“RTR”) and Teri Bariquit (“Consultant”).  This SOW is effective as of the date that SOW No. 2 (“SOW No. 2”) issued under the Agreement terminates in accordance with its terms (the “Effective Date”) and shall supersede and replace SOW No. 2 as of the Effective Date; provided, however, that Consultant shall remain eligible to receive the Annual Bonus (as defined in SOW No. 2) in accordance with SOW No. 2 and the applicable annual incentive program.  This SOW includes the terms and conditions of the Agreement, which are incorporated by this reference.  In the event of any conflict in terms between the Agreement and this SOW, the Agreement shall prevail unless otherwise expressly stated in this SOW.  Terms used in this SOW and not defined shall have the meaning set forth in the Agreement.

Services & Scope of Work: